McGrath Declares Quarterly Dividend

Rhea-AI Summary

McGrath RentCorp (MGRC) declares a quarterly cash dividend of $0.465 per common share for the quarter ended December 31, 2023, marking 32 consecutive years of dividend raises.

Positive

• McGrath RentCorp has a strong history of consistently raising dividends for 32 years, indicating financial stability and commitment to shareholders.

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• None.

LIVERMORE, Calif.--(BUSINESS WIRE)-- McGrath RentCorp (“McGrath” or the “Company”) (Nasdaq: MGRC), a leading business-to-business rental company in North America, today announced the Board of Directors’ declaration of a quarterly cash dividend of $0.465 per common share for the quarter ended December 31, 2023. The dividend will be payable on January 31, 2024 to all shareholders of record on January 17, 2024. The year 2023 marks 32 consecutive years that McGrath RentCorp has raised its dividend to shareholders.

ABOUT MCGRATH:

McGrath RentCorp (Nasdaq: MGRC) is a leading business-to-business rental company in North America with a strong record of profitable business growth. Founded in 1979, McGrath’s operations are centered on modular solutions through its Mobile Modular and Mobile Modular Portable Storage businesses. In addition, its TRS-RenTelco business offers electronic test equipment rental solutions. The Company’s rental product offerings and services are part of the circular supply economy, helping customers work more efficiently, and sustainably manage their environmental footprint. With over 40 years of experience, McGrath’s success is driven by a focus on exceptional customer experiences. This focus has underpinned the Company’s long-term financial success and supported over 30 consecutive years of annual dividend increases to shareholders, a rare distinction among publicly listed companies.

McGrath is headquartered in Livermore, California. Additional information about McGrath and its businesses is available at mgrc.com and investors.mgrc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231207213036/en/

Keith E. Pratt

EVP & Chief Financial Officer

925-606-9200

Source: McGrath RentCorp

FAQ

What is the latest announcement from McGrath RentCorp (MGRC)?

McGrath RentCorp (MGRC) has declared a quarterly cash dividend of $0.465 per common share for the quarter ended December 31, 2023.

When will the dividend be payable to shareholders of McGrath RentCorp (MGRC)?

The dividend will be payable on January 31, 2024 to all shareholders of record on January 17, 2024.

How many years has McGrath RentCorp (MGRC) been consistently raising its dividend?

The year 2023 marks 32 consecutive years that McGrath RentCorp has raised its dividend to shareholders.